In the current trend, electronic transactions are carried out as a routine. The electronic transactions need banks, card processors and digital wallet companies to act as trust agents. The trust agents ensure conformity in service delivery and maintenance of funds by payers. For example, bit-coins and similar virtual currencies provide such a capability in a global scenario where large number of devices is connected to Internet to settle transactions based on proof of work algorithms. However, the virtual currencies only ensure that the transactions are valid in terms of payer having enough balance to make a transaction. However, it is difficult to ascertain authenticity of transactions without a trust worthy central agent.
In a decentralized service sharing scenario, a user connected to a network having access to a particular service may share the service to other users connected to the network, requiring the service. But the existing systems for sharing services do not monitor and validate the amount of service shared. Further, the said systems cannot ensure that the service was delivered successfully. Hence, the user providing and receiving the service may not be able to track the amount of service shared. Further, the user may not be able to keep track of devices to or from which the service is shared or received.